The market continues to hover at lower levels while the search for stability continues. Turnover has eased a bit (because of a curtailed week) while the sentiment remains fluid as investors look for an escape route in the form of a recovery.
Sensex-- Last Close: 2997.38 | Support: 2922, 2826 | Resistance: 3007, 3110
Trading Range: The Sensex opened at 3010.96, moved up to an intra-day high of 3018.66, declined to an intra-day low of 2948.67 and closed at 2997.38.
Review/Outlook: The Sensex has posted a new low but has clawed back to just about end in neutral territory. Intra-day charts continue to hold out hope of a minor recovery, the sustainability of which is in doubt.
Aventis Pharma-- Last Close: 254.00 | Support: 250, 235 | Resistance 264, 271
Trading Range: The scrip opened at 251.10, moved up to an intra-day high of 254.00, declined to an intra-day low of 250.10 and closed at 254.00.
Review/Outlook: The scrip has bounced back after taking support on the psychologically important level of 250 following a five trading session decline indicating scope for an intra-day upside.
BASF-- Last Close: 94.25 | Support: 93, 086 | Resistance: 97, 102
Trading Range: The scrip opened at 93.10, moved up to an intra-day high of 94.45, declined to an intra-day low of 93.10 and closed at 94.25.
Review/Outlook: The scrip seems to have located some stability around the 93-level after a five trading session decline while a further upside cannot be ruled out.
Essel -- Last Close: 135.30 | Support: 133, 125 | Resistance: 143, 154
Trading Range: The scrip opened at 134.60, moved up to an intra-day high of 136.00, declined to an intra-day low of 133.00 and closed at 135.30.
Review/Outlook: The scrip has managed to hang on to the 133-level for three consecutive trading sessions only to finally end in positive territory. This move seems set to spill over to Wednesday's trading session also.
Mastek -- Last Close: 315.85 | Support: 285, 260 | Resistance: 305, 328
Trading Range: The scrip opened at 310.00, moved up to an intra-day high of 322.00, declined to an intra-day low of 306.10 and closed at 315.85.
Review/Outlook: The scrip seems to be in a tentative recovery after a precipitous fall over the past few trading sessions. Chances seem bright of an intra-day recovery above the 323-level.
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